Comments for Homes of the Rich http://homesoftherich.net A Journey into the World of Expensive Real Estate Sun, 14 Mar 2010 05:37:58 +0000 http://wordpress.org/?v=2.9.1 hourly 1 Comment on New Video of The Manor by george http://homesoftherich.net/2010/03/new-video-of-the-manor.html/comment-page-1#comment-10936 george Sun, 14 Mar 2010 05:37:58 +0000 http://homesoftherich.net/?p=6119#comment-10936 Are you a related to Candy or her agent Are you a related to Candy or her agent

]]> Comment on New Video of The Manor by Venom http://homesoftherich.net/2010/03/new-video-of-the-manor.html/comment-page-1#comment-10934 Venom Sun, 14 Mar 2010 05:12:37 +0000 http://homesoftherich.net/?p=6119#comment-10934 Have you built a house like this? How do you know what it costs? My house was $200 a square foot excluding the land and is nowhere on the level of these homes. At this level you can have a single chandelier that costs $250,000 or more and god knows what else. Good luck with your offer. I wish I could see Candy Spelling and her agent rolling on the ground with laughter at your valuation of her home. Have you built a house like this?
How do you know what it costs?
My house was $200 a square foot excluding the land and is nowhere on the level of these homes.
At this level you can have a single chandelier that costs $250,000 or more and god knows what else.
Good luck with your offer.
I wish I could see Candy Spelling and her agent rolling on the ground with laughter at your valuation of her home.

]]> Comment on New Video of The Manor by george http://homesoftherich.net/2010/03/new-video-of-the-manor.html/comment-page-1#comment-10932 george Sun, 14 Mar 2010 04:58:05 +0000 http://homesoftherich.net/?p=6119#comment-10932 I forgot nothing, to say that a house could not be replaced for 750 a sq ft is not realistic. Remember 1/3 of the house is basically a finished attic. Hounds be gone. I forgot nothing, to say that a house could not be replaced for 750 a sq ft is not realistic. Remember 1/3 of the house is basically a finished attic. Hounds be gone.

]]> Comment on New Video of The Manor by Venom http://homesoftherich.net/2010/03/new-video-of-the-manor.html/comment-page-1#comment-10931 Venom Sun, 14 Mar 2010 04:44:10 +0000 http://homesoftherich.net/?p=6119#comment-10931 And still you forget the cost of labor, materials etc when you are calculating your depreciation. Just so you know, most homes, especially high end homes are not calculated on a linear scale of what the appliances are worth and they are not depreciated. Even in a crappy state or area, excluding this unusual bad market, most properties experience at least an annual 5% appreciation. It is a nominal cost to replace or repair no matter what the size of the home. For example there are 4 furnaces and AC units in my home. Even if they were totally replaced including the 3 hot water heaters, it would cost maybe $20,000 to $25,000 total. The roof would be maybe another $15,000 to $20,000. That is nothing. Even if I went wild and spent $100,000 on a slate roof it would still be a percentage of the overall value. Even if you went crazy and somehow spent a million updating the systems in Spelling's house it would be relatively insignificant compared to the overall value and cost to purchase it. You offer 35 to 40 million dollars for that home you might get a shotgun pointed at you. I personally would release the hounds, Mr. Burns style. And still you forget the cost of labor, materials etc when you are calculating your depreciation.

Just so you know, most homes, especially high end homes are not calculated on a linear scale of what the appliances are worth and they are not depreciated.
Even in a crappy state or area, excluding this unusual bad market, most properties experience at least an annual 5% appreciation.

It is a nominal cost to replace or repair no matter what the size of the home.
For example there are 4 furnaces and AC units in my home.
Even if they were totally replaced including the 3 hot water heaters, it would cost maybe $20,000 to $25,000 total.
The roof would be maybe another $15,000 to $20,000.
That is nothing.
Even if I went wild and spent $100,000 on a slate roof it would still be a percentage of the overall value.

Even if you went crazy and somehow spent a million updating the systems in Spelling’s house it would be relatively insignificant compared to the overall value and cost to purchase it.

You offer 35 to 40 million dollars for that home you might get a shotgun pointed at you.
I personally would release the hounds, Mr. Burns style.

]]> Comment on New Video of The Manor by george http://homesoftherich.net/2010/03/new-video-of-the-manor.html/comment-page-1#comment-10930 george Sun, 14 Mar 2010 04:24:10 +0000 http://homesoftherich.net/?p=6119#comment-10930 Venom, I said the depreciated cost of replacement. What I'm saying is a percentage of current replacement cost. The roof, appliances, AC and heating systems etc of a 20 year old house are not as good nor worth as much as NEW. Also if it is handled in a way as to say zillow places a value on your house of X dollars you can start a diologue. I seriously doubt she has had any offers. She might be receptive to a higher price, but being she started way high, the first offer should be low. In the case I was asked what the house was worth my best guess is 35 to 40 mil for the house plus the value of the land, whatever that is. Venom, I said the depreciated cost of replacement. What I’m saying is a percentage of current replacement cost. The roof, appliances, AC and heating systems etc of a 20 year old house are not as good nor worth as much as NEW. Also if it is handled in a way as to say zillow places a value on your house of X dollars you can start a diologue. I seriously doubt she has had any offers. She might be receptive to a higher price, but being she started way high, the first offer should be low. In the case I was asked what the house was worth my best guess is 35 to 40 mil for the house plus the value of the land, whatever that is.

]]> Comment on New Video of The Manor by Venom http://homesoftherich.net/2010/03/new-video-of-the-manor.html/comment-page-1#comment-10928 Venom Sun, 14 Mar 2010 03:42:36 +0000 http://homesoftherich.net/?p=6119#comment-10928 If we were in talks to purchase this home and we offered her such an insulting sum, we would be kicked out of the house on our asses. This is a house, not a car. It is not a depreciating asset. In fact it would cost more to replace it now than what the home was built for if you built new. She may not punch you dead in the face if you offer at least $70-80 million...maybe If we were in talks to purchase this home and we offered her such an insulting sum, we would be kicked out of the house on our asses.
This is a house, not a car.
It is not a depreciating asset.
In fact it would cost more to replace it now than what the home was built for if you built new.
She may not punch you dead in the face if you offer at least $70-80 million…maybe

]]> Comment on New Video of The Manor by george http://homesoftherich.net/2010/03/new-video-of-the-manor.html/comment-page-1#comment-10927 george Sun, 14 Mar 2010 03:30:45 +0000 http://homesoftherich.net/?p=6119#comment-10927 Venom I do agree that zillow is low,BUT, if either of us were in talks to purchase such a house it is one heck of a counter-poiint. Also j the value of such a house is the current value of the land plus the depreciated cost of replacement. Venom I do agree that zillow is low,BUT, if either of us were in talks to purchase such a house it is one heck of a counter-poiint. Also j the value of such a house is the current value of the land plus the depreciated cost of replacement.

]]> Comment on Carmel & Zionsville, IN Mansions by Al Robinson http://homesoftherich.net/2010/03/carmel-zionsville-in-mansions.html/comment-page-1#comment-10926 Al Robinson Sun, 14 Mar 2010 03:03:57 +0000 http://homesoftherich.net/?p=6192#comment-10926 Well, I guess that explains why the other aerial views of the land is just dirt. That makes soo much more sense. Thanks for letting me know. Well, I guess that explains why the other aerial views of the land is just dirt. That makes soo much more sense.

Thanks for letting me know.

]]> Comment on Carmel & Zionsville, IN Mansions by Toby R http://homesoftherich.net/2010/03/carmel-zionsville-in-mansions.html/comment-page-1#comment-10921 Toby R Sun, 14 Mar 2010 01:25:46 +0000 http://homesoftherich.net/?p=6192#comment-10921 I live near the home featured in pictures 13-16. Sadly, it was torn down 2-3 years ago when the owner sold it to a local developer. The home was completely raised to make room for 50 homesites in The Village of Westclay. I live near the home featured in pictures 13-16. Sadly, it was torn down 2-3 years ago when the owner sold it to a local developer. The home was completely raised to make room for 50 homesites in The Village of Westclay.

]]> Comment on New Video of The Manor by j http://homesoftherich.net/2010/03/new-video-of-the-manor.html/comment-page-1#comment-10918 j Sun, 14 Mar 2010 01:01:54 +0000 http://homesoftherich.net/?p=6119#comment-10918 The home is worth atleast $75 million.........it is 56,000 square feet.....the largest in los angelas.....so i dont believe zillow....maybe they are talking about a neighbors house The home is worth atleast $75 million………it is 56,000 square feet…..the largest in los angelas…..so i dont believe zillow….maybe they are talking about a neighbors house

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